Impinj, Inc. (NASDAQ:PI) Shares Sold by Waterfront Wealth Inc.

Waterfront Wealth Inc. decreased its position in shares of Impinj, Inc. (NASDAQ:PI) by 11.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 10,390 shares of the company’s stock after selling 1,403 shares during the quarter. Waterfront Wealth Inc.’s holdings in Impinj were worth $935,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. FMR LLC increased its position in Impinj by 0.8% during the 3rd quarter. FMR LLC now owns 4,028,894 shares of the company’s stock worth $221,710,000 after purchasing an additional 31,289 shares during the period. Sylebra Capital LLC acquired a new position in Impinj during the third quarter worth $217,290,000. Sylebra Capital Ltd raised its position in Impinj by 4.1% in the first quarter. Sylebra Capital Ltd now owns 2,848,085 shares of the company’s stock worth $385,972,000 after acquiring an additional 111,697 shares in the last quarter. BlackRock Inc. raised its position in Impinj by 1.5% in the first quarter. BlackRock Inc. now owns 1,412,629 shares of the company’s stock worth $89,758,000 after acquiring an additional 20,404 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in Impinj by 13.9% in the third quarter. Vanguard Group Inc. now owns 1,251,084 shares of the company’s stock valued at $100,124,000 after acquiring an additional 153,039 shares during the period.

Insiders Place Their Bets

In related news, CEO Chris Ph.D. Diorio sold 16,060 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $101.16, for a total value of $1,624,629.60. Following the completion of the sale, the chief executive officer now directly owns 278,863 shares of the company’s stock, valued at $28,209,781.08. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Impinj news, CFO Cary Baker sold 20,000 shares of the firm’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $102.14, for a total value of $2,042,800.00. Following the sale, the chief financial officer now directly owns 55,432 shares in the company, valued at $5,661,824.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Chris Ph.D. Diorio sold 16,060 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $101.16, for a total transaction of $1,624,629.60. Following the transaction, the chief executive officer now directly owns 278,863 shares of the company’s stock, valued at $28,209,781.08. The disclosure for this sale can be found here. Insiders sold a total of 120,185 shares of company stock valued at $12,767,674 in the last ninety days. Corporate insiders own 17.10% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Canaccord Genuity Group raised their price objective on Impinj from $130.00 to $150.00 and gave the company a “buy” rating in a research note on Thursday, March 14th. Needham & Company LLC raised their price target on Impinj from $120.00 to $130.00 and gave the company a “buy” rating in a research report on Thursday, March 14th. StockNews.com raised Impinj to a “sell” rating in a research note on Friday, February 9th. Evercore ISI initiated coverage on shares of Impinj in a report on Tuesday. They set an “outperform” rating and a $160.00 target price for the company. Finally, Roth Mkm lifted their target price on shares of Impinj from $115.00 to $125.00 and gave the stock a “buy” rating in a research report on Thursday, March 14th. Two research analysts have rated the stock with a sell rating and six have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $119.44.

Impinj Price Performance

PI traded down $0.68 on Thursday, reaching $119.41. The company’s stock had a trading volume of 42,483 shares, compared to its average volume of 364,531. The company has a current ratio of 8.73, a quick ratio of 5.59 and a debt-to-equity ratio of 8.26. Impinj, Inc. has a 1 year low of $48.39 and a 1 year high of $142.70. The business’s 50 day moving average is $115.86 and its 200 day moving average is $91.51.

Impinj (NASDAQ:PI) last released its earnings results on Thursday, February 8th. The company reported ($0.36) EPS for the quarter, beating the consensus estimate of ($0.47) by $0.11. The company had revenue of $70.65 million during the quarter, compared to analysts’ expectations of $67.10 million. Impinj had a negative return on equity of 74.70% and a negative net margin of 14.10%. Research analysts anticipate that Impinj, Inc. will post -0.62 EPS for the current fiscal year.

Impinj Profile

Impinj, Inc operates a cloud connectivity platform in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. Its platform wirelessly connects items and delivers data about the connected items to business and consumer applications. The company's platform comprises endpoint ICs, a miniature radios-on-a-chip that attaches to a host item and includes a number to identify the item.